Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 3.6% - Should You Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price dropped 3.6% on Friday . The company traded as low as $40.12 and last traded at $40.53. Approximately 446,711 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,408,429 shares. The stock had previously closed at $42.02.

Analyst Ratings Changes

TNXP has been the topic of a number of analyst reports. Wall Street Zen cut Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday. Noble Financial reissued an "outperform" rating and issued a $70.00 price objective on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th.

Tonix Pharmaceuticals Trading Down 5.3%

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The company has a market cap of $291.54 million, a price-to-earnings ratio of -0.01 and a beta of 1.63. The business has a 50 day simple moving average of $21.50 and a 200 day simple moving average of $22.14.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($2.84) EPS for the quarter, topping analysts' consensus estimates of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The company had revenue of $2.43 million for the quarter, compared to analyst estimates of $2.55 million. As a group, equities analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insider Activity

In other news, CEO Seth Lederman purchased 4,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were acquired at an average price of $21.55 per share, with a total value of $86,200.00. Following the completion of the purchase, the chief executive officer now directly owns 4,005 shares of the company's stock, valued at $86,307.75. The trade was a 80,000.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several large investors have recently made changes to their positions in TNXP. Geode Capital Management LLC lifted its stake in shares of Tonix Pharmaceuticals by 1,600.1% during the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after acquiring an additional 1,855,907 shares during the period. Jane Street Group LLC lifted its stake in shares of Tonix Pharmaceuticals by 5,932.3% during the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock valued at $548,000 after acquiring an additional 1,635,119 shares during the period. Point72 Asset Management L.P. bought a new stake in Tonix Pharmaceuticals in the fourth quarter valued at about $526,000. Northern Trust Corp bought a new stake in Tonix Pharmaceuticals in the fourth quarter valued at about $162,000. Finally, PFG Investments LLC bought a new stake in Tonix Pharmaceuticals in the fourth quarter valued at about $72,000. Institutional investors and hedge funds own 82.26% of the company's stock.

Tonix Pharmaceuticals Company Profile

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.